New to wholesaling here in HTX, Have a question. My business partner recently came across a lucrative deal. We have a seller who wants to sell his portfolio of around 50 single family homes (selling because he is elderly and does not want the hassle) I have a meeting with my partner today to get more info, but some are current rentals.
How the heck do I market this thing?
How do I calculate my wholesale fee for such an extensive amount of properties?
What strategy should we pursue? (IE sell the entire portfolio, sell in multiples, sell one by one)
How/Where do I find the type of buyer that is willing to buy such an extensive portfolio? (any marketing channels, groups, etc.), and am I looking for a commercial buyer or residential
What do I need to ask of such buyer to weed out phonies or non -serious buyers? I know I need proof of funds but what else?
I thank each contributor in advance and happy to be part of a wonderful community!
I think this is my first post/question. Whoo Hoo!
Don t forget to consider Lease Options.
Personally I have never experienced this package deals working out. Have you asked if he's willing to sell the houses for about 60-70% of what they are worth? From my experience, sellers of these package deals are looking for at or close to retail, which no investor will pick it up for.
If the seller was actually willing to sell for a lowest enough price to make it worth it for an investor, I think you'd do better piecing it together. I would be upfront about what you're doing, get yourself a long contingency / marketing period, and do it for a flat fee. Unless you have the buyer pool to actually get these things sold quickly.